Savory Snacks Market Raw material Outlook, PESTEL Analysis and Type Estimates

Savory Snacks Industry Overview

The global savory snacks market is expected to reach USD 386.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 4.9% from 2022 to 2030. The savory snacks market is growing rapidly on account of millennials consuming snacks over traditional sit-down meals. The shrinking size of households in the countries has boosted the snacking trend, which is expected to drive the demand for these products over the forecast period.

Savory snacks are majorly categorized as snacks that are not sweet. The market growth of these products is driven by health considerations and consumer taste. The presence of numerous flavors coupled with rising R&D investment by major industry players in order to introduce new products is further expected to propel growth over the coming years.

Savory Snacks Market Segmentation

Grand View Research has segmented the global savory snacks market on the basis of product, distribution channel, and region:

Based on the Product Insights, the market is segmented into Potato Chips, Corn & Tortilla Chips, Nuts & Seeds, Popcorn, Pretzels, and Others

• The potato chips segment held the largest market share in 2021 and is expected to maintain its dominance during the forecast period.
• The introduction of new flavors and roasted potato chips with health benefits is expected to have a positive impact on segment growth.
• However, the nuts & seeds segment is projected to register the fastest growth from 2022 to 2030.
• Nuts and seeds are claimed to be good sources of protein, healthy fats, fibers, and vitamins. Rising health concerns of consumers regarding snacking habits have led them to opt for roasted nuts & seeds.
• The nuts & seeds product segment consists of a deluxe assortment of nuts and super seeds such as sunflower, pumpkin, hemp, and chia seeds.

Based on the Distribution Channel Insights, the market is segmented into Hypermarkets & Supermarkets, Convenience Stores, Online, and Others

• The hypermarkets & supermarkets' distribution channels made the largest contribution in the global market in 2021.
• Changing consumer preferences and the availability of a wide range of products offered by various branded and private labels in these formats is anticipated to have a positive impact on the demand.
• The online distribution channel is anticipated to grow at the highest rate during the forecast period. Online retail is changing the nature of snacking and is expected to grow as a proportion of snack category sales.

Savory Snacks Regional Outlook

• North America
• Europe
• Asia Pacific
• South & Central America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The industry is highly competitive owing to a large number of small and big players. The industry participants in the savory snacks industry constantly engage in new product development and the introduction of new flavors. The profitability of companies majorly depends upon effective marketing, a well-trained sales force, and efficient operations. Manufacturers are diversifying their products on account of rising health concerns among consumers.

Some prominent players in the global Savory Snacks market include:

• PepsiCo
• The Kraft Heinz Company
• The Kellogg Company
• Calbee
• Hain Celestial
• Conagra Brands, Inc.
• General Mills, Inc.
• Blue Diamond Growers
• ITC Limited
• Grupo Bimbo

Order a free sample PDF of the Savory Snacks Market Intelligence Study, published by Grand View Research.